Luckin Coffee Inc. has appointed Philip Yifei Bao, Director of Private Equity China at Abu Dhabi's Mubadala Investment Company, to its board of directors. The appointment expands the Chinese coffee chain's board to ten members and deepens governance ties with the UAE sovereign wealth fund.
Chinese coffee chain Luckin Coffee is assessing an expansion into Gulf countries following an investment by Abu Dhabi's Mubadala Investment Company. Mubadala became a direct shareholder after partnering with Luckin's controlling shareholder Centurium Capital on a $1 billion deal. Luckin executives highlighted the Gulf region's repeat consumption and rising demand for health-oriented beverages.
Luckin Coffee is considering entering Persian Gulf markets to drive international growth beyond China, according to company leadership. The strategic push follows a $1 billion joint transaction involving Abu Dhabi sovereign investor Mubadala Investment Company and Luckin's controlling shareholder Centurium Capital. Concurrently, the chain marked an overseas milestone by opening its 100th store in Singapore.
Abu Dhabi sovereign wealth fund Mubadala Investment Company has completed an approximate $1 billion strategic minority investment in Chinese coffee chain Luckin Coffee alongside Centurium Capital. The transaction was structured as a secondary share transfer, meaning no proceeds entered Luckin Coffee's accounts. Luckin generated CNY 49.288 billion in net revenue in 2025 across 36,310 stores.
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